“Historic agreement” was how Israel’s Ministry of Economy and Industry described the free trade agreement just concluded with South Korea, Israel’s first such pact with an Asian state. The photo of the Aug. 21 announcement ceremony shows Economy and Industry Minister Eli Cohen — recently “imported” from the Kulanu party in a trade deal with the ruling Likud — alongside South Korean Minister of Trade Yoo Myung-hee. The ministry said the agreement with the world’s 11th largest economy would increase Israeli exports and encourage investments and growth. Cohen described it as “a celebration for free market adherents,” and his ministry believes the deal will generate similar agreements with other Asian countries, chief among them China (if Big Brother US President Donald Trump gives his blessing).
Prime Minister Benjamin Netanyahu was noticeably absent from the festive event. Why did “Mr. Economy” cancel his participation at the last minute? After all, ties with the burgeoning Asian economy are Netanyahu’s trump card vis-a-vis the European Union (EU) — the same union Netanyahu reviles over its refusal to accept Israel’s occupation of Palestinian territories and its insistence to ignore the Israeli settlement enterprise. Netanyahu has depicted stronger ties with Asian economies as Israel’s "economic Iron Dome" against the threat of EU sanctions. Why, then, did gift-loving Netanyahu absent himself when South Korea handed over presents worth thousands of shekels in discounts to Israeli buyers of the Hyundai and Kia brands clogging the nation’s highways? How can one explain the timing, just weeks ahead of the Sept. 17 elections in which every vote could determine his fate?
